Sold

Closed

1762 Kenwood Place

Costa Mesa CA, 92627

$3,450,000


$509.53 per sqft

Sold

Closed

6,771 sqft

Condo

Built in 1961

Listed by Tyler Leeson with Marcus & Millichap RE Invest 949-419-3200

Kenwood Place Apartments is an 8-unit multifamily investment property located in Costa Mesa, California. Built in 1961, the single-story property offers a mix of 6, one-bedroom units and 2, two-bedroom units. Amenities at Kenwood Place Apartments include ample carport and surface parking, in-unit laundry hookups, private patios, and an on-site laundry facility. Current ownership has invested significant capital into interior and exterior improvements with desirable upgrades including fresh paint, vinyl flooring, quartz countertops, stainless steel appliances, shaker-style cabinetry, and more. The property benefits from its unparalleled Costa Mesa location, in close proximity of parks as well as schools belonging to the highly rated Newport-Mesa Unified School District. Residents at Kenwood Place Apartments enjoy convenient access to an abundance of everyday needs as well as dining and entertainment options at Triangle Square and Costa Mesa Courtyards. Additionally, the property is just 0.30 miles 17th Street a 1.25-mile retail corridor that features a plethora of grocers, retailers restaurants, and bars. Furthermore, Kenwood Place Apartments is just over 1.30 miles from the Balboa Peninsula, home to some of Newport's most famous retail, dining, and recreation hotspots. The property benefits from it's close proximity to State Route 55 & Pacific Coast Highway, connecting residents to employment hubs throughout Southern California. The Costa Mesa submarket is among the strongest performing areas in metro Orange County, with an average occupancy of 96.5 percent (Q4 2023) and average year-over-year effective rent growth of 8.9 percent (between 2021 to 2023), demonstrating the strong demand for rental housing. Costa Mesa's coastal location, strong economic growth, and unmatched local attractions have made it one of Southern California's most desirable and versatile markets. Given the Coastal Orange County location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued growth at Kenwood Place Apartments.

OC24096634

MLS ID

May 13, 2024

Listed

June 8, 2024

Updated

Map

1762 Kenwood Place
Costa Mesa CA, 92627

Interior Features

Total Stories

1


Laundry Description

Common Area


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.48 Acres


Lot Features

Street Level


Sewer

Public Sewer

Other Property Details

Area Name

C2 - Southwest Costa Mesa


Days on Market

4


Garage

No


Parking Total

16


View

No


County

Orange


Water Source

Public


Pool

No


Pool Features

None


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

6/7/2024

Sold

$3,450,000

5/30/2024

Pending

5/19/2024

Under Contract

Listing Contact: 949-419-3200 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 6/8/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 6/8/2024 at 12:09 AM UTC

 

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